New Zealand Inflation Q4 2020

New Zealand

New Zealand: Inflation stable in Q4

January 22, 2021

Consumer prices increased 0.5% in Q4 2020, coming in below Q3’s 0.7% rise. In terms of specific categories, higher prices for domestic accommodation, construction and used cars drove the quarter-on-quarter increase in prices.

Meanwhile, inflation was stable at Q3’s 1.4% in Q4, thus remaining below the Central Bank’s 2.0% target.

Our panelists see inflation averaging 1.4% in 2021 and 1.7% in 2022.

Author: Massimo Bassetti, Senior Economist

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New Zealand Inflation Chart

New Zealand Inflation Q4  20 20

Note: Quarter-on-quarter and annual variation of consumer price index in %.
Source: Statistics New Zealand and FocusEconomics calculations.

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